NexPoint Residential price target lowered to $38 from $42 at Truist

Truist lowered the firm’s price target on NexPoint Residential (NXRT) to $38 from $42 and keeps a Hold rating on the shares. The company is the worst-performing apartment REIT in the firm’s coverage universe, notably trailing other sunbelt apartment stocks that are benefiting from decelerating new supply in the South, the analyst tells investors in a research note. NexPoint also has high financial leverage relative to peers and has a large amount of interest rate swaps expiring in 2026, the firm added.